Definition 6 Account Coordinator, Cecilia Barella, on the social media revolution...
 

Social Media Marketing and PR (as it relates to marketing your product or service) is a hot topic these days - and you'll often find a multitude of definitions on this subject.   Marketing Sherpa sums up Social Media Marketing and PR best in their recent Benchmark Guide. They define Social media marketing and PR as the "the practice of facilitating a dialogue and sharing content between companies, influencers, prospects and customers using various online platforms and social networks, video and photo sharing, wikis, forums and related web 2.0 technologies."  The article also seperates out the difference between social media and social media marketing and PR.

Here are a few other key points from the article that I think you'll find interesting...
 

• Social Media and Email are the only two tactics between online and offline marketing tactics in which more companies are planning to increase spending rather than decrease spending in 2009.
• Lack of knowledge is the most significant barrier to social media adoption -- even though people are familiar with social media, they do not know how to use it effectively for Marketing or PR
• More than 90% of companies believe that social media is most effective in achieving brand building goals, followed closely by goals of attracting website visitors.